Cost of bitcoin 51 attack

1. This is hard to say. Ant miner once said that its mining cost is only about 200 yuan. In September 2014, major mining machinery manufacturers generally believed that their mining cost was around 2000. To be specific, the following figure is the basic information of bitcoin mining Revenue:

2. In fact, people will not let such a thing happen, because once someone controls 51% of the computing power of the whole network, the security and non tamperability of the system will be invalid, then the decentralization system of bitcoin will collapse, and the price of bitcoin will plummet or even return to zero, which is bad news for the participants of the whole network. Therefore, we will spontaneously control the distribution of computing power in the whole network, so as not to let one company dominate. Even when many people find that the computing power of a certain mine is too large, they will take the initiative to withdraw from the mine. Now the most powerful mining pool in the whole network accounts for about 25% of the whole network.

3. Bitcoin mining machine can be done for tens of thousands of yuan now, but the high electricity cost is not affordable by most of us. It is not recommended that bitcoin can choose some other currencies for mining.

4.

Bitcoin is a kind of network virtual electronic currency, and its price has experienced roller coaster like ups and downs. It has no physical support, to put it bluntly, a string of computer code. Personally, I think this is a very unreliable thing. The Internet bubble is very big. In November 2013, the price of bitcoin once reached a high level of 8000 yuan / piece. Subsequently, the central bank, together with five ministries and commissions, issued the notice on preventing bitcoin risks, and the price of bitcoin plummeted. Now the price of bitcoin is more than 2300 yuan / piece

Jingxuan finance didn't you send a lot of articles a few days ago. China is now investigating bitcoin. Crash

5. No visual inspection. Although the idea is good, if you can, then there will be hackers.

6. The so-called 51% attack is to take advantage of bitcoin's ability to use computing power as a competitive condition to cancel the payment transactions that have already taken place

if someone has mastered more than 50% of the computing power, he can find the random number needed for mining blocks faster than others, so he actually has the absolute effective right of which block
he can:
1. Modify his own transaction records, which enables him to make double payments
2. Prevent the block from confirming some or all of the transactions
3. Prevent some or all of the miners from mining into any effective block

7. Bitcoin cash will not have 51% computing power attack. In theory, 51% computing power attack exists, but in practice, it is difficult to work. The reasons are as follows: at present, no single miner can account for more than 50% of the whole BCC network; 51% attack is a kind of technical activity, which is difficult to operate; The cost and benefit of 51% attack are asymmetric, and 51% attack will lead to double spending of transactions. However, most of the trading platforms have implemented strict real name authentication mechanism, which can not be realized in time; Once a miner has the ability to launch a 51% attack, supporters of other large blocks will switch their computing power to Bcc to prevent the occurrence of 51% attack; 51% of attacks will cause temporary confusion on the network, but it is not fatal, and will make the attacker become infamous.

8. In a simple explanation, 51% attack is also called majority attack. It means that malicious miners control more than 50% of the hash rate of the blockchain network, and then attack the network and take over the blockchain network, so that criminals can reverse transactions, stop payment or prevent new transactions from being confirmed
for more information about 51% attacks, you can learn about them on the password finance network,

9. When a single indivial or a group has more than half of the computing power, the indivial or group can control the whole cryptocurrency network. If they have some malicious ideas, they may send out some conflicting transactions to damage the whole network.